Business
US dollar deposits grow as pound falls
March 19, 2013
US dollar deposits grow as pound falls
Egyptians are continuing to convert Egyptian pound bank deposits into US dollars, fearing further depreciation for the embattled currency. A…
Shura Council approves Islamic bond law
March 19, 2013
Shura Council approves Islamic bond law
Parliament approved a law Tuesday allowing the issuance of Islamic bonds, slated to provide the heavily-indebted government with a new…
Domestic wheat output of 9.475 mln tons expected this season
March 18, 2013
Domestic wheat output of 9.475 mln tons expected this season
The government expects wheat production of around 9.475 million tons this season if good weather conditions continue, the state news…
Egypt rejects link between IMF loan and stalled polls
March 18, 2013
Egypt rejects link between IMF loan and stalled polls
Egypt rejected on Monday any link between stalled parliamentary elections and its drive to secure a loan from the IMF…
World Bank’s IFC plans Egypt currency swaps: CEO
March 18, 2013
World Bank’s IFC plans Egypt currency swaps: CEO
The International Finance Corp plans to conduct currency swaps in Egypt to help local firms meet their foreign exchange needs,…
On first Egypt visit, IFC head says investors await clarity, commitment from government
March 18, 2013
On first Egypt visit, IFC head says investors await clarity, commitment from government
On his first visit to the Middle East in his new capacity as the CEO of the International Finance Corporation,…
Payments figures add to pressure for IMF deal
March 15, 2013
Payments figures add to pressure for IMF deal
The country's current account deficit narrowed in July-December, data showed on Thursday, but economists said it remained a major problem…
IMF mission due in Cairo Sunday to discuss economic reforms
March 14, 2013
IMF mission due in Cairo Sunday to discuss economic reforms
An International Monetary Fund delegation is due to arrive in Cairo on Sunday to renew discussions regarding economic reforms,…